BSE warns against unauthorised offers for its unlisted shares
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Ahead of its proposed initial public offering, Asia's oldest bourse BSE warned investors against unauthorised offers to purchase or deal in the shares of the exchange that are unlisted currently.
BSE is expected to file IPO papers with market regulator Sebi next month to mop-up Rs 800 crore.
The exchange's initial share-sale programme may hit the market this financial year.
Warning investors against unauthorised offers, BSE said in a notice, "Certain persons and/or entities have been circulating communications soliciting offer to purchase/deal in the shares of the exchange while such shares are unlisted."
It further said, "Such communications have not been directly or indirectly solicited or prompted by the Exchange, nor does the exchange endorse communications of such nature in any manner whatsoever. Any offer or solicitation pursuant to such communications should be carefully evaluated with respect to their legality as well as the risks involved in the same." The exchange said any person who chooses to participate in any transaction pursuant to such communications (whether as buyer or seller), "does so entirely at their own risk".
The bourse plans to sell up to 30% stake in its much-awaited initial public offering.
The IPO could be a combination of an offer for sale and fresh issue, for up to a maximum of 30% of the post-issue issued equity share capital of the company, subject to regulatory requirements, according to a notice of annual general meeting (AGM).
BSE (formerly known as Bombay Stock Exchange) has already appointed Edelweiss Financial Services as the lead merchant banker and AZB & Partners and Nishith Desai Associates as legal advisors to the issue.
Presently, Multi Commodity Exchange of India is the only listed bourse in the country.
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